Financial Statements

Pharmamax: Consolidated statement of comprehensive income and retained earnings for the year ended $31$

December $2022$

Revenue

Cost of sales

Gross profit

Other income

Distribution costs

Administrative expenses

Other expenses

Finance costs

Profit before tax

Income tax expense

Profit for the year

Retained earnings at start of year

Dividends

Retained eamings at end of year

Notes

$5$

$6$

$7$

$8$

$9$

$(175,550)$

$(810,230)$

$(106,763)$

$(26,366)$

$654,956$

$(270,250)$

$384,706$

$2,171,353$

$(150,000)$

$2,406,059$

$2021$

CU

$5,808,653$

$(5,178,530)$

$1,685,015$

$1,386,078$

$25,000$

$(156,800)$

$(660,389)$

$(100,030)$

$(36,712)$

$457,147$

$(189,559)$

$267588$

$2,003,765$

$(100,000)$

$2,171,353$

Note: The format illustrated above aggregates expenses according to their function $($cost of sales, distribution, administrative etc$).$ As the only changes to Pharmamax equity during the year arose from profit or loss and payment of dividends, it has elected to present a single statement of comprehensive income and retained earnings instead of separate statements of comprehensive income and ehanges in equity.